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Esure drives up profits

Sir Peter Wood, chairman of Esure, said last year was one of “positive momentum” for the companyJustin Williams for the Times

What one insurance industry analyst yesterday called a “friendly price environment” has paid off handsomely for Esure and its investors.

The insurer reported a 35.6 per cent rise in full-year pre-tax profits yesterday to £98.6 million. Income from gross written premiums increased by 25.2 per cent to £820 million as the number of policies in force increased by nearly 10 per cent to 2.373 million.

The increase in profits allowed Esure to announce a dividend for 2017 of 13.5p per share, which included a special dividend. The shareholder payout is the same as the last year, but that included a bonus after the spinoff of Gocompare.com, the price comparison website. Excluding Gocompare, this year’s dividend represents a 31 per cent year-on-year increase on 2016.

Esure…

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